Shares of (NASDAQ: TSLA) are getting hit with another round of big sell-offs in Thursday's trading. The price was down 5.4% as of 2:15 p.m. ET today amid a 4.3% decline for the S 500 and a 5.5% drop for the Nasdaq Composite.

The Trump administration announced a series of wide-ranging new tariffs yesterday, and investors are selling out of stocks in response. With today's pullback, Tesla stock is now down roughly 33.5% across this year's trading.

The Trump administration announced yesterday that it will apply a 10% tariff on all foreign-sourced goods on April 5. Then, a series of added individualized tariffs will go into effect on April 9 targeting countries that the U.S. has the biggest trade deficits with.

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Source Fool.com